Annual Secretarial Compliance Report for FY-2024-25 has been attached herewith.
Awaiting price reaction for this filing.
PAE Ltd submitted its Annual Secretarial Compliance Report for FY ended March 31, 2025, signed by Practicing Company Secretary Yashree Dixit. The company was under Corporate Insolvency Resolution Process (CIRP) from April 22, 2024 to November 27, 2024, during which the board's powers were suspended. A resolution plan submitted by Shri Jatinbhai Ramanbhai Patel was approved by NCLT Mumbai on November 27, 2024, and the new board formally took over on May 2, 2025 after the Monitoring Committee was dissolved. The report flags several non-compliances including a prolonged vacancy of the Compliance Officer (April 2024 to February 2025), delays in filing quarterly financial results and investor complaints, non-filing of the FY 2023-24 Annual Report, delay in shareholding pattern and related party transaction submissions, and unpaid annual listing fees. BSE imposed fines across multiple violations, with individual fines ranging roughly from Rs. 27,000 to Rs. 1.71 lakh per quarter. The report notes that the approved resolution plan extinguishes all past non-compliances, penalties, and liabilities that occurred prior to NCLT approval.
Most flagged non-compliances occurred during the CIRP period under suspended management and are covered by the approved resolution plan, limiting retrospective financial risk. However, the new management still needs to bring filings fully up to date — books of accounts and several statutory filings remain pending, which could attract continued regulatory scrutiny and fines going forward.